Risks of Entrepreneurial Activity in the Direction of Formation of Market Integration Portfolio of the Diversification Strategy

The definition of "entrepreneurial risk" is described in the article as a critical component of successful entrepreneurial operation and an important component of management theory and practise. The method for estimating entrepreneurial activity losses is calculated, and the causal-consequential relationship between the degree of impact of market risks on the performance of the enterprise's economic activity is reflected. The principle of "diversification" as a form of economic process has been proven. Diversification is defined as one of the strategic alternatives to the enterprise's growth, and it is emphasised as a means of obtaining additional economic benefits in the face of a dynamic market situation. The essence of the diversification mechanism is determined, as well as the drawbacks of diversification strategy. Mechanisms of diversification strategy formation are substantiated. The main forms that are used in the risk management process based on the strategy of diversification are highlighted. The significant synergistic effect of two or more enterprises is emphasized, which helps to save resources by reducing costs, combining complementary resources, growing market weight as priority areas for investment and the conquest of new markets. The experience of world leaders in implementing the diversification strategy as the driving force of the unceasing development of the world pharmaceutical industry has been analyzedTaking into account the experience of other countries, it can be argued that the best outcome in collaboration with foreign companies for Ukrainian businesses can be obtained if an efficient diversification policy and a specific cooperation model are properly chosen. The most critical aspect of doing this is, first and foremost, making the best use of available resources, which are an integral part of modernising development and increasing the European Union's investment attractiveness.

The effectiveness of cooperation with foreign partners as the main strategic reference point in the development of national entrepreneurship can be achieved by implementing the proposed conceptual knowledge-resource-market integration portfolio of diversification strategy of business activity, the advantage of which is to combine individual knowledge, resource potential and entrepreneurial capabilities to make an effective economic decision in order to profit and strengthen competitive advantages in the national and foreign markets.